The FEX Quotes system rates for five different benefit or plan types.
Level: Traditional "Day 1" coverage plans with a level death benefit.
Limited Pay: These are also "Day 1" plans, but have a limited pay period (10 yr, 20 yr. etc)
Graded/Modified: Used for less healthy clients and initially have a limited or reduced face amount for the first few years. Each plan's grade or modification is different, so be sure to click the info icon next to each plan for further details.
Guaranteed Issue: These graded plans are typically used when no other qualifying plan can be found for people with serious health issues.
Traditional/SIWL: This is an often overlooked category within the FEX Quoting system. These plans are issued on a simplified basis but have a somewhat higher standard of underwriting. These plans should be considered for healthier people as the rates are frequently lower than the traditional level benefit final expense plans.
Perhaps the most important concept to understand when selecting a plan type is that no rating system is a substitute for product knowledge. Strong product knowledge along with proper field underwriting/interview skills will steer you to the correct plan type.